ETH/USD are trading at 3451 and continue to move as part of the development of growth and have consolidated above the upper boundary of the bearish channel. Moving averages indicate a short-term downward trend for Ethereum. Prices are again testing the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall in the value of the asset from current levels. At the moment, we can expect an attempt to develop a bearish correction in the value of the coin and a test of the support level near the 3365 area. From where we can again expect a rebound in prices and continued growth in the Ethereum rate with a potential target above the level of 3925.
Ethereum Forecast and Analysis for July 3, 2024
An additional signal in favor of growth in ETH/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the bearish channel. Cancellation of the cryptocurrency growth option will be a fall in the value of Ethereum and a breakdown of the level of 3225. This will indicate a breakdown of the support area and a continuation of the fall of ETH/USD quotes to the level of 2865. With a breakdown of the resistance area and closing of quotes above the level of 3645.
Ethereum Forecast and Analysis for July 3, 2024 assumes an attempt at correction and a test of the support area near the level of 3365. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 3925. An additional signal in favor of the rise of Ethereum will be a test of the trend line on the indicator relative strength. Cancellation of the growth option for the digital currency will be a breakdown of the 3225 area. This will indicate a continued fall of the digital currency with a potential target below the level of 2865.
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